Trump: We've made great progress on the deal with China.

Trump: We've made great progress on the deal with China.

In a significant development in the ongoing U.S.-China trade dispute, President Donald Trump announced that high-level trade talks between the two countries will resume on Monday. The talks, set to take place in London, are a follow-up to a phone call between Trump and Chinese President Xi Jinping that both leaders described as positive.

The meeting will be led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer, who will meet with their Chinese counterparts [1][2][3]. Trump expressed optimism about the meeting, stating that "the meeting should go very well" [1][2].

The renewed talks come amid rising tensions between the U.S. and China. Both countries have accused each other of breaching a trade truce reached in mid-May in Geneva. The U.S. has accused China of slow-walking its promise to ease export controls on rare earth minerals, while China has protested U.S. actions such as warnings against using Chinese semiconductors and visa restrictions on Chinese students [1][2][3].

The talks are scheduled to commence as the U.S. faces a self-imposed 90-day pause on sweeping "reciprocal" tariffs set to expire in early July. Additionally, Trump's most sweeping tariffs face legal uncertainty after a federal appeals court allowed them to temporarily stay in effect, a day after the US Court of International Trade deemed the method used to enact them "unlawful" [1][2].

This latest round of talks is part of Trump's broader strategy to overhaul the global market and make China the chief target of his economic campaign. The talks are expected to focus on trade issues, with no mention of other geopolitical matters such as Russia/Ukraine or Iran [3].

References:
[1] https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-xi-jinping-speak-at-last-as-us-and-china-lean-on-key-exports-in-trade-fight-191201147.html
[2] https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-and-chinas-xi-jinping-speak-at-last-agree-to-more-talks-191201181.html
[3] https://www.newsweek.com/trump-announces-new-trade-negotiations-china-2082141